Home » Economy » Dogecoin is a financial security and will be regulated January 23, 2022
Dogecoin is a financial security and will be regulated, says Jim Cramer
The host of CNBC’s Mad Money has issued a warning to Dogecoin holders. Jim Cramer thinks Dogecoin is a financial security and will soon be regulated. Analysts believe that the price of Dogecoin could start an uptrend if it can find strong support in a bear market.
Dogecoin may soon be regulated
Jim Cramer, host of the CNBC show Mad Money, suggested that the purpose of Dogecoin is to make money from exchanges. cryptomonnaies. Cramer believes Dogecoin is a financial security and will soon be regulated.
Cramer is a well-known critic of cryptocurrencies, admitting that they “play on the psychology of crowds”.
The Mad Money host urged investors and traders to be careful when trading Shiba Inu-themed cryptocurrency. Cramer tweeted about Dogecoin:
Billy Markus, the co-founder of dog-themed cryptocurrency Dogecoin Shiba Inu, responded to Le Cramer’s reflections on the memecoin.
Markus asked Cramer to learn about Dogecoin and how the blockchain works. Dogecoin does not qualify the Howey test, the US Supreme Court case, to determine whether a transaction qualifies as an investment contract. the memecoin based on proof of work is a cryptocurrency similar to Bitcoin.
Markus explains that Dogecoin is not a financial security; it is a cryptocurrency like bitcoin. Historically, Jim Cramer has been critical of Dogecoin, even at its peak in April 2021.
Analysts have assessed the price trend of Dogecoin and predicted a trend reversal. Crypto analyst and trader @RAFAELA_RIGO_ believes that Dogecoin price could hold support at $0.16 and rebound, starting an uptrend.
FXStreet analysts predicted that the price of Dogecoin could fall to $0.09 USD.
Par Ekta Mourya, FXStreet
Ekta Mourya is currently pursuing his MBA in Finance. She has been working in the cryptocurrency space since 2017. She has held positions in the marketing team of major Indian cryptocurrency exchanges Koinex and CoinDCX. She is interested in day trading and the derivatives market.
The opinions expressed here are solely those of the author and do not necessarily reflect the views of Forex Quebec. Every investment and trading move involves risk, you should do your own research when making a decision.
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